EUR/USD heading lower, with key support in view
EUR/USD failed to break the $1.1758 resistance level on Tuesday, with the pair turning lower as a result. The break through $1.1758 (bullish) or $1.1613 (bearish) provides us with the bias going forward.
With the price continuing to move lower, the bearish outlook is becoming increasingly likely. Thus, watch for the market reaction between here and $1.1613, where we either reverse higher, or else break and hold below that level for a bearish outlook to be confirmed.